Riyadh — Mubasher: Thimar Development Holding Company incurred a net loss of SAR 5.82 million during for the first half (H1) of 2026, representing a 34.601% reduction from the SAR 8.90 million in H1-25, according to the financial results.
The company attributed the improved performance to a SAR 2.90 million decrease in general expenses in addition to the realization of SAR 858,000 in fair value (FV) investment gains, which were absent in the prior year.
The loss per share stood at SAR 0.90 in H1-26, compared to SAR 1.37 in H1-25.
In the second quarter (Q2) of 2026, the net loss also narrowed by 47.036% to SAR 2.37 million from SAR 4.47 million in Q2-25.
Operating losses also improved, falling by 63.863% to SAR 1.47 million in April-June 2026.
Thimar’s financial position remains under pressure, with accumulated losses reaching SAR 96.61 million.
Therefore, the accumulated losses amount as of 30 June 2026 represents 148.63% of its capital.
An independent auditor’s report highlighted material uncertainty regarding the group's ability to continue as a going concern.
However, Thimar noted it is currently exempt from certain corporate law requirements regarding capital losses due to its ongoing financial reorganization process under the Saudi Bankruptcy Law, which commenced following a court ruling on 7 April 2021.
It is worth noting that Thimar plans a capital increase through a rights issue.
